Global Cement News

Zimbabwe: Khayah Cement plans to invest approximately US$25m in capital expenditure in 2024, focusing on a kiln refurbishment project at its plant in Harare. The investment aims to increase production capacity and sales volumes, NewsDay Business News has reported. Preparatory work has begun, with completion expected by the end of 2025.

Khayah Cement's CEO, Innocent Chikwata, said that the project will address issues with its current equipment and stabilise the company’s operations by ensuring a reliable supply of raw materials. He noted that the plant's current capacity utilisation rate is 60%, with a target of 70% by the end of 2024.

US: Peru-based Unacem recorded a rise in cement sales volumes in its US operations during the second quarter of 2024 to 324,000t, a 96% increase from the same period in 2023. It partly attributed the growth to the addition of the Tehachapi plant in California in August 2023, which contributed 159,000t during the reporting period, Noticias Financieras News has reported.

However, in the Peruvian market, Unacem reported cement sales volumes of 1.37Mt, down by 2.8% compared to the second quarter of 2023. 

Thailand: Siam Cement has reported its results for the first half of 2024. Sales stood at US$13.9bn, slightly down from US$14bn previously. Net income declined threefold to US$340m compared to US$1.36bn a year ago.

For the quarter ending 30 June 2024, the company recorded sales of US$3.5bn compared to US$3.45bn in June 2023, and a net income of US$102m compared to US$223m.

Argentina: InterCement, the Brazilian group owning Loma Negra, has extended an exclusivity period with Companhia Siderúrgica Nacional (CSN) until 12 August 2024 to finalise the sale of its assets. Despite no firm commitment to sell, this move sidelines local investor Marcelo Mindlin's bid.

InterCement said in a statement "There is no signed document that generates any firm obligation or commitment on its part, its shareholder, and/or its subsidiaries in connection with the potential transaction."

According to CE Noticias Financieras, InterCement is under financial strain with debts of US$1.6bn. It is continuing to negotiate with creditors and strategise asset divestments.

Saudi Arabia: Al Jouf Cement has entered an agreement with Italy-based Webuild to supply cement worth US$27.7m for various projects in the upcoming NEOM city. The contract spans 41 months from signing, with potential for increased quantities. Al Jouf Cement anticipates a profitable impact on its financial statements from the third quarter of 2024 until the contract's conclusion.